On the eve of the FOMC statement the market is usually ambivalent as there is concern that the Fed won’t do what the market wants. With only 100 basis points to “play with” the market is pricing in at least a 50 basis point cut and some would argue 75! That would take the rate
Is the FOMC Santa or the Grinch?
Since the S&P 500 hit its high off the March lows on November 16th it has done nothing but consolidate in a tight range. Take a look at the chart below and you can see that the range is indeed narrow but what’s more important is that the volatility is at some extreme lows. This